News Releases
TORONTO, July 29, 2008 – BMO Spend & Payment Solutions, a leading North American provider of advanced commercial card solutions, today announced that it has further expanded its global banking partnerships, allowing customers to conduct business through Asia's United Overseas Bank and Europe's BCC Corporate NV. The agreements further expand BMO's international footprint and enable North American companies to conduct business more efficiently worldwide.
United Overseas Bank, which became a BMO partner last year through its operations in Malaysia, has expanded this relationship to include its locations in Hong Kong, China; Singapore; Thailand; and Indonesia. BCC Corporate has partnered with BMO in the following countries: Belgium, The Netherlands, Luxembourg, Germany and France.
“We're always looking for opportunities to grow our global network, which makes it easier for our customers to do business around the world,'' said Terry Wellesley, Managing Director of BMO Spend & Payment Solutions. “We'll continue to seek these partnerships so that our customers have ready access to one of the strongest commercial card programs available in the industry.”
BMO has been rapidly growing its global capabilities by developing alliances with leading institutions around the world. The alliances enable BMO to provide an unparalleled worldwide network with local support banks, making it possible to service corporate card accounts virtually anywhere. This allows BMO customers – among the leaders in today's global economy – to conduct business more efficiently worldwide.
Through BMO detailsOnline�,
its proprietary database for reporting, analysis and management, clients
have the ability to review procurement
and travel expenses by both individual country and a worldwide rollup
in a single currency. The suite of global reports provides customers
greater expense oversight, streamlined activities, and better cash flow
for their business transactions at home and abroad.
“It's important for BCC Corporate to continue offering customers
access to a worldwide commercial card network and expanded card offerings,” said
Wouter Versonnen, Head of Sales at BCC Corporate NV. “BMO is
the right fit for us as we service customers that need the best solutions
to effectively manage their corporate transactions.”
United Overseas Bank and BCC Corporate NV join several other financial institutions in India, Italy, China, Australia, Japan, France, United Kingdom, Scandinavia and Chile as partners in BMO's global commercial card network.
About BMO
Spend & Payment
Solutions
A division of BMO Financial Group, BMO Spend & Payment Solutions
(formerly BMO ePurchasing Solutions) is a top 10 commercial card provider
and a leading provider of spend and payment solutions in North America.
BMO Spend & Payment Solutions' products are widely used by
corporations, non-profit and government sector organizations to manage,
control and gain better visibility into their commercial spending.
Through Harris N.A., a Midwest-based and wholly owned subsidiary of BMO Financial Group, BMO Spend & Payment Solutions offers a comprehensive range of financial products and services to U.S. public and private sector organizations.
About United Overseas Bank
United Overseas Bank Limited (UOB) is a leading bank in Singapore with
a global network of over 500 branches/offices and subsidiaries/associates
in 18 countries and territories in Asia-Pacific, Western Europe and
North America. UOB offers an extensive range of commercial and personal
financial services through its branches as well as through its subsidiaries
and associate companies.
About BCC Corporate NV
BCC Corporate focuses fully on credit cards and related services for
companies to generate savings, increase control, and provide comfort
for corporations. Four major Belgian banks -- Fortis, Dexia, ING and
KBC -- hold stakes in BCC Corporate. In 2007, a turnover growth of
25 percent was achieved with a 65 percent market share in Belgium.
BCC Corporate provides extensive insurance and reporting packages linked
to corporate cards and is much more flexible concerning the payment
terms, payment methods and closing dates of the accounts. The corporate
range consists of three products: corporate cards, related cards and
travel key cards and are issued in most European countries in Eurozone.
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